Clorox second-quarter earnings up 16%

NEW YORK (MarketWatch) -- Clorox Co.'s second-quarter earnings rose 16%, boosted by record sales of its Fresh Step cat litter, higher sales of Kingsford grilling products and increased shipments of home-care products in Mexico and Argentina.

The Oakland, Calif., consumer products company
CLX, +0.23%
had second-quarter earnings of $96 million, or 62 cents a share, compared with $83 million, or 55 cents, a year earlier. Results for the latest period included a tax benefit of 3 cents a share related to the sale of a Brazilian unit.

Clorox said net sales for the quarter ended Dec. 31 rose 3.5% to $1.1 billion from $1.06 billion a year ago.

In addition, Clorox said it expects 2007 sales growth of 3% to 5% and earnings from continuing operations of $3.20 to $3.28 a share, including third-quarter earnings of 74 cents to 80 cents a share and fourth-quarter earnings of $1.10 to $1.16 a share.

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